Scotiabank Cuts Cascades (TSE:CAS) Price Target to C$12.00

Cascades (TSE:CAS - Free Report) had its price objective decreased by Scotiabank from C$13.50 to C$12.00 in a research note published on Wednesday, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts have also issued reports on CAS. Royal Bank of Canada dropped their price objective on shares of Cascades from C$14.00 to C$11.00 and set a sector perform rating for the company in a report on Friday, April 19th. CIBC lowered their price target on shares of Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. National Bankshares lowered their price target on shares of Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. TD Securities lowered their price target on shares of Cascades from C$12.00 to C$11.00 and set a buy rating for the company in a report on Tuesday, April 16th. Finally, Desjardins lowered their price target on shares of Cascades from C$14.50 to C$13.00 and set a hold rating for the company in a report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Cascades currently has a consensus rating of Hold and an average target price of C$11.67.

Cascades Trading Down 1.3 %

TSE CAS traded down C$0.12 during trading hours on Wednesday, reaching C$9.30. The company's stock had a trading volume of 243,791 shares, compared to its average volume of 267,558. The firm has a fifty day simple moving average of C$10.40 and a 200-day simple moving average of C$11.88. The stock has a market cap of C$936.60 million, a P/E ratio of -12.26, a P/E/G ratio of 0.56 and a beta of 0.06. Cascades has a 52 week low of C$9.14 and a 52 week high of C$15.00. The company has a debt-to-equity ratio of 108.76, a current ratio of 1.33 and a quick ratio of 0.86.

Cascades (TSE:CAS - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.30 by C($0.25). The business had revenue of C$1.14 billion during the quarter, compared to the consensus estimate of C$1.22 billion. Cascades had a negative net margin of 1.64% and a negative return on equity of 2.86%. Equities analysts forecast that Cascades will post 0.8298611 earnings per share for the current fiscal year.

Cascades Increases Dividend

The business also recently disclosed a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were given a dividend of $0.48 per share. This is an increase from Cascades's previous 1 dividend of $0.12. The ex-dividend date of this dividend was Thursday, March 21st. This represents a dividend yield of 4.66%. Cascades's dividend payout ratio (DPR) is -63.16%.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.